By Geoff Dembicki
Review via New York Journal of Books
Dembicki makes the case that millennials are capitalism’s worst nightmare because they are opting not to own cars, houses, and other material things, thanks to the philosophy of sharing resources, such as Lyft, Airbnb, and short-term rental of goods. A softening demand for cars means less of a market demand for oil, which means a much-reduced role for the petroleum industry. The “petrostate” will still have the plastics and chemical industries that rely on oil, but a huge sector of their industry is waning.
Continue reading
